BRICS 2024: Putin Challenges West, Dollar | Pakistan, China Lessons For India | South Asia Diary
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- Опубліковано 26 жов 2024
- In the latest episode of Hindustan Times South Asia Diary, Strategic Affairs Expert Sushant Sareen delves into BRICS’ expanding role and its potential to challenge Western-dominated forums like the G7. As BRICS aims to reduce reliance on the U.S. dollar, Sareen explores whether this ambitious move toward "de-dollarisation" is truly on the horizon. He also addresses the complexities within BRICS, particularly the strained dynamics between India and China, as Russia hosts this pivotal meeting in Kazan. Can BRICS reshape the global economic landscape despite internal tensions? Watch the full analysis to find out.
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I keep hearing about a potential BRICS currency to challenge the U.S. dollar. If it happens, it could change everything for investors. Has anyone planned for this?
I actually work with Kate Elizabeth Cressotti, and she’s been helping me understand the implications of a BRICS currency. She believes it’s a real possibility and has advised some specific strategies to prepare.
I’ve heard great things about her! What’s her take on a BRICS currency and its impact on investments?
Kate Elizabeth Cressotti thinks a BRICS currency could reduce the dollar’s dominance, especially in emerging markets. To hedge against that, she’s suggested increasing my exposure to commodities and currencies from emerging markets.
That’s smart. My portfolio is very dollar-centric. Did Kate Elizabeth Cressotti mention any risks related to holding too much in dollars?
Yes, absolutely. She mentioned that if the BRICS currency gains traction, it could weaken the dollar over time. That’s why she recommended a more diversified currency approach.
More and more country doing trade in their currency will reduce dollar usage in world trade which will reduce dollar influence
You should understand that we need a respite from the military build up in ladakh given our other Security challenges. We use the time to build up our infrastructure and strengths.
For every 90 days US debt is increasing by 1 trillion dollars which is unsustainable
Eventually Dollar which is already loosing it's purchasing power will lose its value further
Then what will countries do who store their hard earned money in Foreign reserves in dollars which will face devaluation 148 countries central banks are already piling up gold
It will not happen immediately but sushant don't kid yourself
Are you considering unfunded liabilities of USA because india not have same ,
4 trillion dollar added 90 days.
@12:02 If we replace the US dollar......
There's no need to replace the dollar, but other options ( not based on Yuan ) are good for everyone. It would keep the US on check.
We are talking about creating a system of checks & balances here, not replacement of the USD
OK. Good points. We are working hard to build our strength. No problem.. We have to forge on with renewed vigour and strength.Jai Hind!!
BRICS have larger GDP in PPP terms which is an actual measure of economic activity.
The first step in de-dollarisation is Mbridge, which will compete with SWIFT to transfer money. Mbridge transfers do not use dollars. This will reduce the importance of the Dollar in international trade..............Depolarization!!!!
With US folly of confiscating Russia's dollar reserves after Ukraine war, the dollar-free trade will gain momentum. BRICS will contribute significantly to this. It is easy to reduce dollar transactions in mutual bilateral trade because there is a huge advantage of trading in mutual currencies.
This saves both countries in the banking commission of converting the currency of the exporting country into dollars & the importing country converting those dollars in the local currency thus eliminating two-time banking commission in the cycle of conversion.
This means that if India is importing $100 billion worth of oil from a country & exporting $25 billion worth of goods to it, each country will save $25 billions of banking commission by trading directly in rupees i.e. out of bilateral trade of $125 billion, $50 billion can be traded in rupees which is 40% of bilateral trade. This is a big savings in banking commission of currency conversion.
Lower denominator of bilateral trade can be easily done in mutual currency.
Eliminating dollar banking commission twice also reduces the market selling price of the product & a country’s surplus mutual currency in the hand of another country helps in increasing the import of more products from the country. There are thus many advantages of mutual currency trading. The economic status of the country also gets security against US high handedness & machinations of American proteges.
We do not need a single alternative currency for de-dollarisation as trading can be done in local currencies or with Bitcoins.
Bit surprised this guy saying de-dollarisation not happening on ground? How is then oil trade happening between India and Russia? Payment from UPI now made in more than 38 countries… process has started and no one expecting going to happen tomorrow…
BricTube coming zoom, to save us from Ads abuse
Nothing gets done at BRICS summit, except some photo ops.
Listening to this guy i think it would be better for india to leave the brics and join the western camp.
No one cares what you think.
When analysis is Analysis
Not Entertainment
USA is not going to nowhere where the Brics wants it go. Forget Brics ambition . USA can squeeze the world the way it wants to. The problem is no country is as transparent as the USA. That’s why the world trusts USA.
India must bring brics currency must be rubble and rupee no yuan both Russia and india convince or force to do with china good
🗨️🌋
Just stop bgm u assshooooleeeee
Please don't hate USA and Dollar . India is not anti USA and anti West. We have our own relations and India will not compromise those at the behest of Russia and China and other countries .
USA is anti-India & Anti-Hindu
You need a US visa maybe?
Or germany can always join brics and get it right status... Of german engineering which it deserved and could have made this world a much better place to live .. If it wouldn't have diverted decades ago
Germany is not ideal!! It will never be part due to its history. Russia will never allow it!!
@@elonag777 that's the thing.. To take this large step.. A lot needs to change transform from inside outside.. Or else we cannot ever come out of wwii..
So don't worry this will happen only when transformation begins or at least the world community starts accepting this approach. It holds true for both the sides
@@elonag777 said this.. We should keep in mind brics is an economic alliance so if any country has some value to add in the group from the economy with a sustainable peaceful approach, we should be open.
Let's not make it anti NATO and include its members if they have a platter to serve in grp.
@@elonag777 if not ger, france, ned etc only as members if okay.. Just my view.. Let's review..
@@elonag777Germany is occupied satellite state of usa
Russia is an economic dwarf
Russia much like most oil producers is filled with criminals
And yet 50 countries cannot defeat it either militarily or economically. Use your brain don't swallow the cool aid fed by the msm.
Say that you are sorry for the war first.
Why should he since Zelensky sold Ukraine to US! US is only there to take Russians oil and its resources. Wake up you!!
Saddam, Gaddaffi and next? Wait and watch
G7 for all intents and purposes is a regine for economic synergy among militarily allied (mostly anglo saxon major economies of the NATO) industrialised economies that have a common level playing field laid before them due to early industrialisation and technological exchanges. In contrast, BRICS is a mileu with limitations (like confronting militico-geopolitical interests, some aspirants being literal basket cases or saddled with sanctions and ostracisation, deep gap in technolgical prowess, infrastructure and quality of education, poor law and order and law enforcement and absence of transoarency in dealing trade disputes with rule if law, political instability, poor work culture, demograohic burden) that will persist in the mid toblong term that the G7 grouping does not suffer from. But better use of their combined natural resources and trade among themselves under BRICS umbrella negating western interference and control still can be productive but prosoects any furher progress hinges upon how much major economies of the BRICS would be willing to trust in the efficiency of leaderships of weak poor states to sacrifice and risk atleast short term fall in their own economio-geopolitical standings against the westossphere given the mess these weak impoverished states are currently in.
Off course india cant stop however india can be easily replace with IRAN Brics means China solely and mighty china
😂😂😂 seems like ccp media has banned you from commenting therefore you are spewing your venom here...oh wait china has no democracy and no free media .😂😂...ccp bot get a life and stop being a stooge of your mighty china....